Indian Refiners Shift from Russian to Middle Eastern Crude Amid US Sanctions and Trade Talks

Indian refiners, led by Bharat Petroleum Corp (BPCL), are shifting their crude oil imports away from Russia toward long-term purchases from Middle Eastern producers such as Abu Dhabi, Iraq, and Oman. This strategic move follows US sanctions and tariffs imposed by the Trump administration aimed at curbing Russian oil purchases. While US Treasury Secretary Scott Bessent claimed India has stopped buying Russian oil due to these tariffs, Indian refiners continue to adjust their sourcing amid ongoing trade negotiations with the US and efforts to diversify supply.